Retaining property after recent separation
Have you separated from your husband or partner recently and you would like to retain the home/investment property?
If so, before signing off on the settlement documents, it is important to take advice from a broker as to your ability to refinance any existing mortgage debt secured against the property and/or borrow sufficient funds to pay to your spouse. Otherwise, your agreement with your spouse could quickly go ‘pear shaped’.
Fedorov Lawyers have had many family law clients who would like to retain the home/investment property but have been turned away by their own bank or who don’t think they can borrow sufficient funds to take over the mortgage/pay their spouse. Before ‘writing off’ the idea of keeping a property, Fedorov Lawyers recommend that you speak to a broker and as you may be surprised at the finance options out there.
Fedorov Lawyers have connections with highly regarded brokers here on the Gold Coast who will work extra hard to get your finance application across the line so that you don’t have to sell up if you don’t want to. Bear in mind that, you if do decide to sell the property, you are going to be hit with selling costs, including agents commission and legal fees. So, if you would like to retain the property, that’s all the more reason to speak to the right professionals who can help.
If you would like advice from Fedorov Lawyers in relation to your family law matter, or if you would like us to provide you with a referral to a broker who can help you get the best deal on finance, please get in touch by calling 1300 768 719.